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The last pandemic has shown how quickly companies have to adjust to the Healthcare market dynamics and changing patient/consumer patterns.

In order to be able to face those challenges with a positive outcome, it is fundamental for OTC and Pharma companies to think outside the box. How? Expanding horizons.

This can mean different roads to take in order to differentiate your business, from targeting new markets to enter or to expand the pipeline with different products. Of course, these actions bring other challenges to overcome but they can make a big difference for the future of your business.

Shift from your home country to international growth!

Often, the immense growth potential of the Emerging Markets – especially in the OTC and Pharma Business – is not really taken into account. In reality, expanding the “home-business” to the Emerging Markets can represent a turning point for your company.

Being less dependent on your home market means lowering the risk of an unexpected crisis

The map shows the shift between only focusing on home country or to expand to more emerging markets

Search for new horizons!

Targeting some familiar neighbour countries’ market to enter and develop the business can be a safe choice for a company but exploring new opportunities with one or two Target countries may grow your international sales significantly and minimize your risk and dependence on the Home Market.

Enlarge your portfolio with a new segment!

The last pandemic has shown how much differentiation can be important for a OTC and Pharma company. This is the moment to search and find a new solution to develop the Portfolio and shift from one to two or three other indication groups or segments. New challenges for R&D? No worries, Consumer Health and Pharma experts like us could help your business to develop ideas in line with your existing products

The infographic shows the importance of not being dependent on only few therapeutic areas

Not sure how to do it? This is where Chameleon Pharma Consulting steps in! Helping you and your business to expand, whether it is Portfolio or Target Countries expansion we can support in diversifying the company and benefit from all the roads that the world of Emerging markets can offer.

 

 

As one of the few winners against the pandemic with modest financial resources, is the Vietnamese pharma market ready for international investments and colaborations?

The Covid-19 outbreaks and Vietnam’s remarkable performance in containing its spread have proven that health is, and will absolutely continue to be, a priority for most Vietnamese and as well as for the government. 

The societal shift that is creating opportunities for Vietnam’s Pharma and OTC  industry

Like most countries identified as emerging markets, Vietnam is undergoing drastic changes in terms of demographic, social, and economic aspects. Most recently, there are some significant shifts that make Vietnam more and more competent in becoming a top-of-the-list for international companies that are looking to expand their business in emerging markets. 

 

The first and most important factor in this equation is the fast-growing middle class in the country. Vietnam currently has the fastest-growing middle-class population in South-East Asia. This has significantly boosted the demand for high-quality and specialized healthcare services.

 

Subsequently, due to higher demand and affordability, the health insurance and hospital systems are expanding. Vietnam has become a coverage ratio leader within Asia and it has set a goal of covering 95% of the population with Universal Health Service by 2025. The Hospital network is also fairly extensive and the government continues to finance the construction of new hospitals. At the same time, it is also increasingly looking at investment from the private sector and international firms. 

 

As a result, the country recently signed the European Union Vietnam Free Trade Agreement (EUVFTA). The agreement will remove tariffs for pharmaceutical products from the EU and allow foreign companies to import and sell pharmaceuticals to Vietnamese distributors and wholesalers. 

 

Furthermore, there was an Amended Law on Enterprise and Law on Investment, effective January 2021, that incentivizes investment in five key sectors including healthcare. Projects in these sectors will benefit from preferred enterprise income tax, exemption or reduction of land lease fee, and credit support.

Finally, investors should also pay attention to the development of Digital Healthcare in Vietnam. Recently, the Ministry of Health approved a five-year project on remote medical examination and treatment. Apps and medical services will be developed to manage files and knowledge systems, as well as helping patients find medical information, make their appointments, and consult doctors. These measures will accelerate the digitalization across Vietnam’s hospital network. 

Overall, investors can be optimistic about the future of Vietnam’s Healthcare Industry. The societal changes, as well as the government’s regulatory activities in favor of the development of the sector, have made Vietnam one of the most attractive go-to emerging markets for companies and individual investors. 

Ho-Chi-Minh City